Being two of the most prominent business organizations in the world operating in the telecommunications industry, both AT&T and Verizon ensures the accurate reporting of its financial transactions during a certain fiscal year. …
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Coincidentally, both of the companies under consideration utilize the service of a single auditing firm Ernst and Young LLP.
Ernst and Young LLP prides itself in being a "global leader in assurance, tax, transaction, and advisory services (Ernst and Young 2008)" having the overall aim of extending a "positive impact on businesses and markets, as well as on society as a whole" (Ernst and Young 2008). With this commitment for excellence, it currently employs a pool of 130,000 professionals with diverse background and specialties each contributing to the success of the business organization. As an auditing firm, it maintains high standard in its undertaking and promotes overall transparency in financial reporting (Ernst and Young 2008). With the growth of financial fiascos and controversies involving huge corporations like Enron, Ernst and Young upholds its integrity in the market through its dedication to high ethical standards in its operations (Ernst and Young 2008).
The annual reports of AT&T and Verizon both comprise four important financial statements each highlighting different aspects which give users of these information a thorough knowledge on their financial standing.
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and find the different approaches adopted by them. Both the giant companies are from the steel industry. Thus through the study of the annual reports of these two companies we will be able to assess the movement of the companies in the adaptation of its goals, challenges and plans.
According to the there are different reasons of why enterprises give importance to annual reports. Some of the reasons include clean market analysis, comparative financial assessment and productivity analysis which is no other possible if there are no annual reports to compare. It has been that in markets where there is a major population of investors and share holders then enterprises come out regularly with the activity of reporting.
In the business' field, talking about sustainability means taking into account not only the profits of the company but also its social responsibilities. Companies all around the world are increasingly becoming concerned about standards of sustainability by assuming this type of responsibilities.
It can also be expanded as: assets less liabilities = shareholders' equity (revenue less expenses). The balance sheet of a business organization becomes the clearest manifestation of how this accounting equation is applied as this financial statement shows how its resources are financed by its stakeholders.
In East Africa, the most significant aspect of tax reform was the creation of semi-autonomous revenue agencies, beginning with Uganda (1991), Kenya (1995), Tanzania (1996) and Rwanda (2000).
Formation of these agencies led to new accountability relations: by placing the responsibility for revenue collection outside the civil service, it was now possible to "bypass" the deficiencies in existing state institutions through offering higher salaries and more flexible procedures for recruitment of staff.
Overall, Vodafone is a large group with multiple legal entities. However, the CEOs of all the legal entities report to the group Chief Executive Officer (CEO) and the Chief Financial Officer (CFO) manages consolidated finance for the group. The analysis presented herewith is pertaining to the consolidated finance of entire group and not of their individual legal entities.
Profitability is the condition for survival in the long run. The profitability ratios are return on capital employed, gross profit margin, net profit margin, return on assets, and return on owners' equity. Return on capital employed shows how much profit was earned out of every dollar of long-term financing.
Brands Inc., to explore their approach to communicating annual performance, their goals, challenges and plans, as well as effects of the organizations’ annual report formats on communicating the intended
Some of the tactics include: images of people from different cultural backgrounds to represent different demographics, figures representing financial performance, and colors that make numbers and important information clear
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